Electric Cars Are Affordable In China, But Remain Quite Expensive In Europe And The US | Carscoops carscoops
but EV prices do not fall accordingly in all segments. While the average electric SUV is a lot cheaper compared to six years ago, prices for the average EV have gone up, especially in the smaller segments. Also, the US and European markets are still lagging behind China in terms of EV affordability, with prices remaining significantly higher than ICE-powered equivalents.
A more worrying issue is that EVs remain a lot more expensive compared to gasoline cars – by 27% in Europe and by 43% in the US. The balance is quite the opposite in China, where EVs are already cheaper than ICE-powered vehicles by an impressive 33%.easily beats both Europe and the US when it comes to EV pricing in the smaller segments thanks to generous government policies.
on the other hand, urban EV prices rose by 15% to €28,319 in the same period, being a lot more expensive than gasoline-powered city cars which retail for €17,527 . Thankfully, things are slightly different in the most popular segment, as the average price for an electrichas dropped significantly in both Europe and the US. More specifically, in a matter of six years, prices nearly halved from €109,506 to €57,461 in Europe, and from €99,874 to €54,026 in the US. Despite the progress though, the numbers remain higher than the average price of an ICE-powered SUV which currently is €44,373 in Europe and €43,514 in the US.
In Europe, each country has its own policy for EV incentives, with some of them going a long way during the past year. The goal is to boost EV sales in the Old Continent in order to meet the ambitious target of only zero-emission new vehicles by 2035.
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